Nataly Kambur
⬤ Palladium is taking a breather after hitting ascending resistance on the daily chart. The metal's cooling off just below the upper edge of its rising channel, with momentum fading as buyers step back. Selling pressure popped up right at trendline resistance, showing the market's hesitant rather than ready to push higher.
⬤ The chart reveals a dark cloud cover pattern that formed at resistance earlier this week—typically a sign that buyers are running out of steam after a rally. That was followed by a spinning top candle, confirming neither side could take control. The latest session printed an inside bar, tightening the range even more as palladium squeezes beneath resistance instead of breaking through.
⬤ Zooming out, palladium's still trading inside an ascending broadening wedge, keeping the overall trend tilted bullish despite this pause. Within that bigger picture, price action also looks like it's forming a tighter rising wedge as the range narrows. Pullbacks are holding above rising support and the key moving average, meaning sellers aren't getting aggressive—just cautious.
⬤ This setup matters because palladium's shifting from expansion mode into digestion. The trend's still healthy, but those stacked indecision candles below resistance mean traders need confirmation before any fresh leg up. A clean break above current resistance would restart upside momentum, while more consolidation could give the market time to reset. How palladium resolves this squeeze will shape near-term sentiment and set up the next directional move.
Nataly Kambur
